Why do some government ban bitcoin? - page 43.

posoa

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Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

Bitcoin is not bad and the reason why the few countries banned it is not because it is bad.Bitcoin as one of the crypto currency is out with a lot of technological inputs that the normal currency does not have to go through, this include getting a wallet through Block chain Technology and there by buy your bitcoin through processes that this Digital currency have come out with.To many countries, this may be cumbersome. Yet another most vital reason is that the banks will have view the resultant effect of the whole community embracing the Bitcoin, as this will affect their services in terms of profit margins, it will also cut down customers patronage to the bank as the activities of managing your wallet is as per individual and will not require the services of any of the bankers.So this is the reasons why most banks are against Bitcoin and crypto currency in general

aeternus

sr. member

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Quote from: Bitcoins Network on November 25, 2017, 01:03:56 PM

I heard that in Russia Bitcoin is illegal, and if you are caught operating BIG amounts, you can even get a jail time.
I believe this is due Bankers and Governments being but-hurt about loosing their commission and shit like that.

But did you expect something different? if you were a banker making a lot of money by doing nothing, will you be happy that a contender like bitcoin appeared? Because I know that if I was in their place I will be very worried and will do anything to stop it, so this is natural but what they do not understand is that bitcoin is so superior to the current system that it is going to impose itself even if they do not want it.

Kabul

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Quote from: arteezyy on December 05, 2017, 09:43:57 AM

I don't know what is the bad side about bitcoin. All I know is bitcoin is being banned because government can't control it and they can't issue taxes on transactions on bitcoin.

The bad side of bitcoin is that it makes too many people invest their money in the cryptocurrency. Moreover, ignorant people start to think that mlm coins are good and they can give them profit. Therefore, in some places, banning bitcoin is always for the good of the people

bribed

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I think the countries that ban Bitcoin and cryptocurrency are scared of loosing control over peoples money and therefore try to ban it. But what they dont understand is, that banning Crypto only leads them to misfortune and disadvantages over other countries that embrace the newly evolving technological developments. The countries that try to prevent this evolution of the financial sector from happening are backwarded and will sooner or later realize that they made a big mistake with their course.

tempebacem

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i believe they are concern how will individuals use bitcoinbitcoin is not good neither bad, not wrong or right this will depend about how individuals will use bitcoinperhaps not every people is thinking to make use of bitcoin as medium of exchange and for funds appreciationthe federal government is really worried about how can individuals abuse its great features to gain their individual interests.

Kid zeus

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Every country wants to be on the course of development but then its not an easy task to do so, there ate various obstacles that come in the way. The same is with BTC ,any country would like to have crypto currency as their very own but not everyone has the perfect planning to excute such a decision and that to on such a major scale , we are talking about a country over here and every single country needs to be a bit more developed to keep BTC as their fiat but with rapid advancements in technology around us the day is not far when we are gonna use BTC to buy even grocery...(thats just a thought , couldn't get a good example 😅)

Kurapajajadi

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Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

In me opinions Bitcoin seemed to boom in the industries, all central banks cannot control bitcoin that's why government is afraid to claim it. And i think they really thought that they can't legallized bitcoin that's why their banning it. People can launder money. Mostly, people earn money without paying taxes, they prefer working for bitcoin than become an employee who works hard and pay taxes.

Rupok

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The government thinks that illegal work is done with bitcoin. Bitcoin is used in the internet, so the transaction can not be traced. The government thinks that it is considered one of the most significant transactions in kidnapping, robbery, murder etc. So, the government of some countries, Bitcoin Ban Lets do it.

wel24

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Some people or governments comprehension or impression about bitcoin is used for fraud ,cause of money laundering.They dont even know that btcoin will make our life new and help us to make our goals come true.They dont study and do research before accusing btc in fact bitcoin will make your investments bigger amd bigger in just few days or time but in the bank our money will grow little by little monthly.

paul00

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Bitcoin has been helping lots of citizens who knows how to use and manage it. However, we all know that there are people who have been victimized by scam thru the use of bitcoin. Maybe this is one of the reasons why governments tend to ban bitcoin in their countries. They might be protecting their people from these digital threat.

Glydel1999

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The main reason why the bitcoin is banned in some countries is because governments in some countries that the bitcoin have a disadvantages if they will legalize it.
For them, bitcoin has bad effects.

arteezyy

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I don't know what is the bad side about bitcoin. All I know is bitcoin is being banned because government can't control it and they can't issue taxes on transactions on bitcoin.

AlexanderAnthony

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The way I see it, in my opinion why some government Ban bitcoin is base on their point of view. Some may see it as a threat to the government because some civilians may prefer to invest in bitcoin over than the traditional banking and since some government bank or public bank. Public bank is a bank controlled by and principally funded by a government and some private investors are not under by the government since bitcoin is a digital currency it only exist electronically,government can't touch it. so I think that is one of the reasons why.

Samsungnumbertwo09

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Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

I think that goverments was afraid coz they thought that bitcoin is for buying illegal items or do some illegal activities and the bitcoin those not pay a tax.

quoc01663916422

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the Government they fear we tricked dermatome bitcoin, they think just a virtual coins bitcoin on the internet. The Government said that Bitcoin is used for illegal activities

cryptoindustries

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btc

Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

MintCondition

legendary

Activity: 1147

Merit: 1007

Quote from: shezu007 on December 05, 2017, 07:30:55 AM

as we all know that bitcoin is decentralized and no one can control bitcoin. Some governments are banned bitcoin and the reason is that they want to get our money in their control while bitcoin is not under government government control due to which some government are trying to banned bitcoin.

They banned it since bitcoin is decentralized, they saying that they were into investors goods, that it might affect investors situations for they might get scam and tge accused it as a way of scamming people.

AimHigh

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Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

Yes you are right many country ban cryptocurrency just like bitcoin they broadcast and they are spreading a newa that if you are joining or trading in bitcoin they put you in the jail even in my country so many of bitcoiner here was affraid about the news but if you are user or bitcoiner dont be affraid because it ia not easy to locate you where are you because of thwre are so many user in bitcoin so that the government didnt easy to locate you.

kasansa

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The main concept most of the government's fear to promote that bitcoin is a digital currency whereas they will lose revenue like income tax, people may use it for money laundering.

MalaViolina

newbie

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Some goverment ban bitcoin becouse people don't store in their money value. And bitcoin value doesn't stop growing. And when that happens,their money value starts to fall. Becouse is big diffrence bwtween bitcoin and their money value. And so the state weakens if their currency is weakening. Also they don't have full control over bitcoin as they have over their currency.

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